Pinnacle Financial Partners Inc. PNFP Income Statement

Pinnacle financial partners inc. (PNFP)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Interest income:
Loans, including fees
236,420	241,209	247,147	237,653	229,379	228,599	221,901	208,758	191,214	188,906	183,841	112,319	93,218	94,197	90,090	77,043	74,404	71,601	61,453	50,325	49,466	48,352	47,510	45,089	43,695	42,811	42,778	42,149	41,514	41,705	40,405	39,288	38,637	38,917	38,571	38,905	38,353	41,105	40,323,693
Securities:
Taxable
10,268	10,211	10,655	12,243	13,540	13,013	12,209	11,748	11,222	12,295	12,066	8,265	6,433	5,128	5,012	4,571	4,466	4,201	3,953	3,460	3,444	3,409	3,469	3,628	3,720	3,644	3,538	3,650	3,670	3,574	3,973	4,453	4,929	5,179	5,952	6,479	6,360	7,004	8,058,265
Tax-exempt
13,824	13,597	13,313	12,556	11,672	10,286	10,074	8,350	7,285	5,178	4,620	2,235	1,678	1,532	1,544	1,443	1,493	1,482	1,416	1,400	1,483	1,472	1,533	1,563	1,597	1,636	1,601	1,483	1,656	1,604	1,621	1,647	1,703	1,800	1,819	1,837	1,935	1,942	1,985,946
Federal funds sold and other
2,557	3,436	4,634	3,399	3,292	4,197	3,926	2,128	1,807	1,704	1,638	922	814	634	732	703	609	510	367	316	283	298	268	282	277	312	259	260	314	318	440	563	553	548	543	566	574	598	560,611
Total interest income
263,069	268,453	275,749	265,851	257,883	256,095	248,110	230,984	211,528	208,084	202,167	123,743	102,143	101,493	97,379	83,761	80,974	77,796	67,192	55,502	54,678	53,533	52,781	50,564	49,290	48,404	48,177	47,544	47,156	47,203	46,440	45,953	45,824	46,445	46,887	47,789	47,224	50,650	50,928,515
Interest expense:
Deposits
50,698	55,905	62,531	58,988	54,217	50,123	44,172	32,767	23,981	21,367	19,103	10,993	8,119	7,303	6,625	5,073	4,915	4,599	3,587	2,592	2,430	2,441	2,435	2,481	2,595	2,644	2,708	2,955	3,412	3,730	3,986	4,298	4,827	5,718	7,138	8,306	9,424	12,306	12,925,139
Securities sold under agreements to repurchase
115	131	152	142	145	150	165	143	130	129	148	78	50	46	51	39	48	38	39	29	30	40	38	31	30	34	55	70	77	85	99	115	155	178	204	345	381	435	364,648
Federal Home Loan Bank advances and other borrowings
18,704	18,245	17,260	17,803	16,275	15,607	14,353	15,838	12,946	11,858	9,733	6,043	5,207	4,730	4,067	3,605	2,108	1,683	1,506	1,050	948	738	770	824	757	756	840	918	907	1,144	1,422	1,354	1,337	1,255	1,189	1,341	1,397	1,849	1,941,437
Total interest expense
69,517	74,281	79,943	76,933	70,637	65,880	58,690	48,748	37,057	33,355	28,985	17,115	13,376	12,080	10,744	8,718	7,071	6,321	5,133	3,671	3,410	3,219	3,244	3,338	3,382	3,436	3,604	3,945	4,397	4,960	5,508	5,768	6,320	7,153	8,531	9,993	11,203	14,590	15,231,224
Net interest income
193,552	194,172	195,806	188,918	187,246	190,215	189,420	182,236	174,471	174,729	173,181	106,627	88,767	89,413	86,634	75,043	73,902	71,474	62,059	51,830	51,268	50,313	49,537	47,226	45,907	44,968	44,572	43,598	42,758	42,243	40,932	40,185	39,504	39,292	38,355	37,795	36,020	36,059	35,697,291
Provision for credit losses
99,889	4,644	8,260	7,195	7,184	9,319	8,725	9,402	6,931	6,280	6,920	6,812	3,651	3,046	6,108	5,280	3,893	5,459	2,227	1,186	315	2,041	851	254	487	2,225	684	2,774	2,172	2,487	1,412	634	1,034	5,438	3,632	6,587	6,139	4,789	30,508,685
Net interest income after provision for credit losses
93,663	189,528	187,546	181,723	180,062	180,896	180,695	172,834	167,540	168,449	166,261	99,815	85,116	86,366	80,526	69,763	70,009	66,015	59,831	50,644	50,953	48,271	48,685	46,972	45,420	42,743	43,887	40,824	40,586	39,755	39,519	39,550	38,469	33,853	34,723	31,208	29,881	31,270	5,188,606
Noninterest income:
Total noninterest income
70,377	59,462	82,619	70,682	51,063	57,270	51,478	47,939	44,183	36,488	42,977	35,056	30,382	30,742	31,691	32,712	25,855	26,607	21,410	20,018	18,493	14,384	12,888	12,597	12,732	12,488	11,387	11,325	11,902	13,107	10,429	9,909	9,949	9,726	10,079	9,809	8,324	8,594	10,569,154
Noninterest expense:
Salaries and employee benefits
80,480	81,444	85,919	75,620	70,376	74,725	69,117	64,112	63,719	63,346	64,287	43,675	38,352	37,994	36,053	34,254	32,516	30,877	27,745	23,774	23,530	23,075	21,721	21,772	21,749	21,494	21,009	20,570	19,572	19,556	19,470	19,237	19,792	18,962	19,015	18,523	17,923	16,069	15,847,121
Equipment and occupancy
20,978	21,059	20,348	23,844	19,331	19,073	19,252	18,208	17,743	17,114	16,590	10,712	9,675	9,228	9,401	8,312	8,130	8,384	6,932	5,877	6,046	6,078	6,477	5,822	5,709	5,543	5,412	5,204	5,113	5,202	5,156	5,053	5,008	4,977	4,942	5,060	5,006	5,230	5,492,406
Other real estate expense, net
-2,415	-804	-655	-2,523	-246	-631	-67	-819	794	-251	-512	-62	-252	-44	-17	-222	-112	-99	686	114	-395	630	-417	-226	-651	-302	-699	-1,390	-720	-1,364	-2,399	-3,104	-4,676	-4,193	-5,079	-3,825	-4,334	-8,522	-7,411,206
Marketing and other business development
3,251	4,298	2,723	3,282	2,948	3,628	3,293	2,544	2,247	2,093	2,222	2,126	1,879	2,385	1,349	1,537	1,263	1,465	1,252	1,186	959	1,208	945	1,064	908	1,140	720	987	790	1,276	834	739	785	1,031	751	766	753	748	793,696
Postage and supplies
1,990	2,407	1,766	2,079	1,892	1,831	1,654	2,291	2,039	1,661	1,754	1,122	1,197	999	922	1,049	957	1,052	795	731	649	717	569	544	560	559	581	517	591	562	637	615	563	576	509	545	489	636	700,505
Amortization of intangibles
2,520	2,896	2,430	2,271	2,311	2,576	2,616	2,659	2,698	3,071	3,077	1,471	1,196	1,136	1,424	846	873	916	602	227	227	236	236	237	237	246	246	248	520	683	683	686	686	715	715	715	715	744	746,001
Merger related expenses
-	-	0	0	-	0	0	2,906	5,353	19,102	8,847	3,221	672	3,264	5,672	980	1,829	2,607	2,248	-59	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other noninterest expense
25,715	17,562	19,100	18,067	16,947	16,945	17,991	17,369	15,575	16,331	12,443	9,404	8,831	7,711	8,685	8,727	8,380	6,906	6,215	5,005	5,022	3,706	3,991	4,233	3,828	3,350	4,652	1,943	5,130	6,205	4,396	4,479	4,307	3,917	4,662	4,920	5,476	5,822	5,500,424
Total noninterest expense
137,349	130,470	132,941	127,686	114,051	119,409	113,990	110,908	108,580	122,972	109,735	71,797	62,054	62,764	63,526	55,930	54,063	52,191	45,106	36,747	36,831	34,392	34,359	33,901	33,645	32,636	33,322	30,861	32,440	34,851	33,578	33,915	35,819	34,373	35,675	34,357	34,700	37,773	36,491,359
Income before income taxes
26,691	118,520	137,224	124,719	117,074	118,757	118,183	109,865	103,143	81,965	99,502	63,074	53,444	54,345	48,692	46,545	41,801	40,431	36,134	33,916	32,615	28,263	27,214	25,667	24,506	22,594	21,952	21,288	20,048	18,011	16,371	15,545	12,599	9,206	9,127	6,660	3,504	2,090	-20,733,599
Income tax expense (benefit)
-1,665	22,441	26,703	24,398	23,114	23,439	24,436	23,000	19,633	55,167	35,060	19,987	13,791	18,248	16,316	15,758	13,835	13,577	11,985	11,252	10,772	9,526	9,017	8,497	8,139	7,274	7,305	6,978	6,600	6,281	5,021	5,105	4,234	1,446	-16,973	288	0	0	5,630,431
Net income
28,356	96,079	110,521	100,321	93,960	95,318	93,747	86,865	83,510	26,797	64,442	43,086	39,653	36,096	32,376	30,786	27,965	26,854	24,148	22,663	21,842	18,737	18,196	17,169	16,367	15,320	14,646	14,310	13,448	11,730	11,349	10,439	8,364	7,759	26,100	6,371	3,504	2,090	-26,364,030
Preferred stock dividends
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	760	900	1,004	1,213	1,200	1,187	1,213	1,200,694
Accretion on preferred stock discount
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	1,894	258	1,074	349	327	305	328	306,466
Net income (loss) available to common stockholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	11,730	11,349	7,784	7,205	5,680	24,537	4,843	2,011	549	-27,871,190
Per share information:
Basic net income per common share (in dollars per share)
0.37	1.27	1.45	1.31	1.22	1.23	1.22	1.13	1.08	0.25	0.84	0.81	0.83	0.80	0.71	0.75	0.70	0.67	0.64	0.65	0.62	0.55	0.52	0.49	0.47	0.44	0.43	0.42	0.40	0.35	0.33	0.23	0.21	0.17	0.74	0.14	0.06	0.02	-0.85
Diluted net income per common share (in dollars per share)
0.37	1.25	1.44	1.31	1.22	1.23	1.21	1.12	1.08	0.25	0.83	0.80	0.82	0.79	0.71	0.73	0.68	0.64	0.62	0.64	0.62	0.53	0.52	0.49	0.47	0.44	0.42	0.42	0.39	0.33	0.33	0.23	0.21	0.17	0.72	0.14	0.06	0.02	-0.85
Weighted average shares outstanding:
Basic (in shares)
75,803	76,009	76,301	76,344	76,803	77,098	77,145	77,124	77,077	77,243	76,678	53,097	48,022	45,497	45,294	41,274	40,082	40,063	37,828	35,128	35,041	34,830	34,762	34,697	34,602	34,360	34,282	34,172	33,987	33,961	33,939	33,885	33,811	33,486	33,372	33,454	33,366	32,857	32,675
Diluted (in shares)
75,966	76,759	76,556	76,612	77,128	77,475	77,491	77,468	77,365	77,896	77,232	53,665	48,517	46,188	45,918	41,974	40,847	42,167	38,792	35,554	35,380	35,304	35,155	35,081	34,966	34,793	34,606	34,431	34,206	34,533	34,523	34,470	34,423	34,137	33,993	34,095	34,013	33,576	32,675
Service charges on deposit accounts
Total noninterest income
9,032	9,094	10,193	8,940	8,542	-1,427	9,972	8,456	7,905	6,078	5,920	4,178	3,856	3,849	3,778	3,430	3,442	3,499	3,258	3,075	2,912	3,038	2,912	2,965	2,790	2,739	2,797	2,540	2,480	2,622	2,531	2,439	2,323	2,290	2,361	2,330	2,261	2,444	2,429,200
Investment services
Total noninterest income
9,239	6,646	6,270	5,803	5,468	5,406	5,450	5,074	5,245	4,722	3,660	3,110	2,822	3,319	2,592	2,499	2,345	2,786	2,525	2,399	2,259	2,737	2,353	2,164	2,127	2,394	1,955	1,895	1,792	2,050	1,676	1,610	1,646	1,402	1,698	1,637	1,508	1,234	1,315,263
Insurance sales commissions
Total noninterest income
3,240	2,017	2,252	2,147	2,928	2,038	2,126	2,048	3,119	1,961	2,123	1,461	1,859	1,178	1,233	1,192	1,705	1,102	1,102	1,105	1,512	1,045	1,037	1,144	1,384	1,014	1,021	1,107	1,393	1,045	987	1,141	1,287	943	1,001	1,004	1,049	954	904,359
Gain on mortgage loans sold, net
Total noninterest income
8,583	6,044	7,402	6,011	4,878	3,141	3,902	3,777	3,744	3,839	5,962	4,667	4,155	2,868	5,096	4,221	3,567	2,180	1,894	1,652	1,941	1,373	1,352	1,668	1,234	1,154	1,326	1,948	1,813	1,768	1,978	1,456	1,494	1,461	1,295	789	609	1,310	908,611
Investment gains and losses on sales, net
Total noninterest income
463	68	417	-4,466	-1,960	-2,295	11	0	30	-8,265	0	0	0	395	0	0	0	-9	0	556	6	0	29	0	0	-	-1,441	-25	-	1,987	-49	98	113	133	376	610	-159	0	2,259,124
Trust fees
Total noninterest income
4,170	3,835	3,593	3,461	3,295	3,375	3,087	3,564	3,117	2,645	2,636	1,677	1,705	1,732	1,522	1,491	1,580	1,481	1,437	1,230	1,311	1,274	1,109	1,071	1,145	991	931	880	944	863	767	770	795	746	753	769	729	726	754,515
Income from equity method investment
Total noninterest income
15,592	12,312	32,248	32,261	13,290	17,936	14,236	9,690	9,360	12,443	8,936	8,754	7,823	8,136	8,474	9,644	5,147	7,839	5,285	4,266	3,201	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other noninterest income
Total noninterest income
20,058	19,446	20,244	16,525	14,622	29,096	12,694	15,330	11,663	13,061	13,736	11,207	8,162	9,262	8,994	10,232	8,065	7,726	5,906	5,733	5,348	4,915	4,094	3,582	4,048	4,193	4,796	2,978	3,478	2,769	2,537	2,392	2,287	2,749	2,592	2,668	2,325	1,925	1,998,082